Long Term:
We continue to focus our long term long holdings on precious metals and resource backed equities as the purchasing power of the dollar depreciates. Short holdings focus on demographic shifts out of central business district commercial real estate and subsequent increase in delinquencies on CRE loan books.
Core Longs: SIL, GDX, CCJ, XME, DBA, EPD, DJP, BYND.
Core Shorts: VNO, XLF, SBNY, CMBS.
Short Term:
Short Term opportunities are broken down into two categories. Equity volatility opportunities and futures trading.
Equity Positions: Long MA 8/7 280/320 Strangle. Long GILD 1/15 65/85 Strangle. Long AMD 7/31 60/65 Call Spread
Futures:
-Longs: 1Unit Silver looking to reduce on move through 20, 2 Units platinum for bullish pennant pattern breakout, 4 units Russell 2000 for Growth/Value unwind, 1 Unit Lean Hogs and 2 Units Feeder Cattle. 4 Units 10y UST
-Shorts: 2 Units NDX 100 Futures.